3 Types of Construction Loans: A Comparison and Review

Posted by Melissa Lynn Galland on Jul 31, 2018 7:54:54 AM

Topics: Finance Your Home, homebuilding tips, Financing

Most people can’t fund the construction of a new home using cash, but that doesn’t mean it’s impossible to build your own custom home. Much like getting a mortgage to purchase an existing home, you can get financing to pay for the costs of new construction. Also like a typical mortgage, there are several different financing options available to you. The one that makes the most sense for you will depend on factors such as:

  • Cash available for a down payment
  • Ability to make monthly payments
  • Credit score and history
  • Household income
  • Existing debt and assets

If you’ve never built a new home or gone through the financing process, it can feel intimidating. There is always a lot of paperwork, and the many options can be confusing if you don’t understand all the details. However, you don’t have to go through it all alone.

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Spare Room Rentals: Earning Extra Money with Your Home

Posted by Melissa Lynn Galland on May 17, 2018 7:32:14 AM

Topics: Finance Your Home, homebuilding tips, Lifestyle

When building a new home, budget is always a consideration. If you’re like most people, there is an upper limit to what you can build with the resources you have available. If you don’t yet have the funds to build your dream home, you can save money by using your existing space to your advantage. Spare room rentals will allow you to save money for a down payment on a construction loan or pay off more of your existing mortgage faster to build more equity.

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How to Finance Your Home When You Already Own Land

Posted by Melissa Lynn Galland on Jan 18, 2018 12:00:00 PM

Topics: Finance Your Home, Financing

Construction loans can be structured in a number of ways, depending on whether you also need to purchase land or already own a lot. If you already own land and want to build on it, you can finance your home in a variety of ways. Every lender is different, so it’s always a good idea to discuss your options with various providers to find the solution that works best for you.

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Securing Financing for the Custom Homebuilding Process

Posted by Melissa Lynn Galland on Sep 15, 2017 8:00:00 AM

Topics: Finance Your Home, Financing

Building your first custom home is an exciting, unforgettable experience. Of course, for many customers, it can also be a huge learning opportunity, because purchasing a custom home is so much different from buying a traditional, prebuilt one. It’s no wonder we encounter a lot of people who have questions about the financing process, which is unfamiliar territory for most first-time custom homebuyers.

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How Financing A Custom Home Differs From A Traditional Mortgage

Posted by Melissa Lynn Galland on Jul 25, 2017 8:00:00 AM

Topics: Finance Your Home, Financing

If you’re ready to upgrade to a larger or higher-quality home, you’re probably already considering whether a custom home is right for you. The custom route is the sure-fire way to get exactly what you’re looking for, no matter what that may be.

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Financing a New Custom Home Vs. Existing Home

Posted by Melissa Lynn Galland on Jun 20, 2017 9:22:05 AM

Topics: Finance Your Home, Build a Custom Home, Financing

Buying your first home is an experience unlike any other. And although it’s thrilling, it can also include a bit of a learning curve. But rest assured, you’ll wind up in the home you’ve always wanted.

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How Much Does Building a Custom Home Really Cost?

Posted by Melissa Lynn Galland on Jan 9, 2017 9:54:18 AM

Topics: Budget, Finance Your Home, Financing

Not surprisingly, one of the most common questions people ask when considering building a custom home is: How much does it cost? The answer is, of course: It depends. There are so many factors that go into calculating the cost of building a custom home that it can be difficult to predict the total price until the project is finished. However, by understanding all of the associated costs, and by working with an experienced builder, you are better able to predict the total price tag and ensure that you stay within your budget.

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How to Finance Your New Custom Home Build

Posted by Melissa Lynn Galland on Jan 4, 2017 8:47:50 AM

Topics: Finance Your Home, Financing

For most people, a new custom home build requires outside financing. Much like getting a mortgage for an existing home, unless you can pay with cash, you will need to source other funding. There are several options for financing the construction of a new home. The one you choose will depend on your individual financial situation and personal preferences.

The two primary sources of funding a custom home build are a new-construction loan and builder financing. You might also be able to save with new-construction tax credits.

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“Building an Adair Home is a Smart Financial Decision”

Posted by Melissa Lynn Galland on Apr 6, 2016 8:53:34 AM

Topics: Finance Your Home, Plan Smart, Custom Home Costs, Custom Homes

What if you could build your dream home and feel like it was a good financial decision? That’s exactly how many of our homeowners feel. In fact, according to Alliance Financial Services the average Adair Homes customer they financed has earned 22% equity through this unique building process. That means that our customers designing and building a custom home in a location they choose isn’t just magical -- it’s practical, too.

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Building Custom is Easy

Posted by Melissa Lynn Galland on Jan 28, 2016 8:50:46 AM

Topics: Finance Your Home, Plan Smart

Building a custom home doesn’t require champagne wishes and caviar dreams. While it may be the house of your dreams, that doesn’t mean it’s out of your league. For less than it might even cost you to rent, you could be owning a slice of Pacific Northwest paradise.

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